Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Fonterra chairman John Wilson has told shareholders the co-op delivered a strong performance for the year.
He noted the co-op achieved an EBIT of $974m and a 183% increase in net profit at $506 million.
These results importantly include the Latin American business, Dairy Partners Americas for the first time, Wilson noted.
"While the strong second half result was pleasing, the first half was disappointing with big movements in dairy prices impacting inventory valuations and product mix returns," he told about 300 shareholders at the annual meeting this week in Waitoa.
"It was frustrating to finish third out of the cooperatives, and this is unacceptable.
"The reality is the week-to-week swings in price and foreign exchange, and the way we each sell products has a big impact on year to year comparisons.
"We paid a 25c dividend, which this season reflected the higher funding costs from our investments in capacity along with our higher relative advance rate."
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
Horticulture NZ chief executive Nadine Tunley will step down in August.
OPINION: Canterbury milk processor Synlait is showing no sign of bouncing back from its financial doldrums.
OPINION: It seems every bugger in this country can get an award these days.